Securities Lawyers Blog
Currently financial advisor Richard Oh (Oh), currently employed by brokerage firm Taglich Brothers, Inc. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $876,101.98 on December 06, 2024.
The arbitration was filed September 2024 almost 9 years after the last investment with Taglich Brothers, Inc. (TBI). The Claimant is alleging the Respondents are responsible for his current financial circumstances 9 years after the last investment made through TBI. The Claimant, himself, completed all the paperwork, wrote and signed detailed and precise instructions for investments in the private placement transactions made through TBI during the 11 years. There was no fraud and no malfeasance on behalf of the Respondents. Richard Oh did not engage in sales practices with the Claimant nor did he have direct contact with the Claimant. The Claimant, a successful workmen’s compensation plaintiff’s attorney, made investments in several private placements through TBI simultaneously placing unsolicited orders for trading in equities listed on the stock market. The Claimant, a practicing attorney, breached his legal fiduciary obligations in handling his mother’s brokerage accounts, knowingly committed fraud representing in writing, including, but not limited to, his financial ability to invest in the private placements, his understanding of the risks of the investments, his knowledge of the securities markets, which he knew would be read and was relied upon by the Respondents and the companies he invested in.
